Asset Class

Rates Credit Research & Market Analysis

Finvaulta tracks 1432 research reports on Rates Credit, updated through September 2, 2026. Latest: “Codelco: Copper Price Tailwind”.

Global rates and credit markets are navigating a landscape defined by resilient primary demand despite rising volatility in specific sectors. In the rates space, sovereign yields have trended slightly lower while investors focus on central bank announcements from Europe and the UK, especially as US price pressures persist in the ISM services data. Credit markets demonstrate robust appetite, exemplified by the seamless absorption of €6.5bn in new EUR investment grade and financial issuance, though analysts note that secondary market compression is slowing with sector spread differentials stabilizing around 30-35bp. However, specialized credit risks are emerging as a 21% year-to-date decline in the software sector begins to pressure BDC valuations, highlighting the potential for private credit stress. While cooling oil prices near $68/b mitigate some inflationary concerns, the delay of official US payrolls due to a government shutdown has heightened the importance of private sector labor data. Finally, structural credit considerations are appearing in the housing market, where demand-side policy proposals are viewed as potential drivers of increased credit risk.

Featured reports

Codelco: Copper Price Tailwind

UBS·Sep 2, 2026

UBS CIO highlights positive 2Q26 earnings from Chilean state-owned copper miner Codelco, driven by higher copper prices that offset production declines. Credit metrics and leverage improved significantly, supporting a preference for Codelco's 3.15% 2030 bond in a hold-to-maturity strategy.

Bond Top List

UBS·Sep 1, 2026

The UBS Bond Top List compiles current recommendations across global fixed income markets, dividing coverage into hold-to-maturity bonds for buy-and-hold investors and relative-value tactical recommendations. The report spans government, senior corporate, financial, high-yield, hybrid, subordinated, floating-rate, and sustainable debt across multiple global currencies.

Pemex: Oil Price Driven

UBS·Aug 27, 2026

Pemex reported 2Q26 financial results meeting moderate expectations, with leverage dropping to 3.9x and total debt falling to USD 77.4bn on higher crude prices and sustained government support. UBS reiterates its preference for Pemex's 5.95% 2031 bond offering a 6.08% yield-to-worst.

Gerdau: Solid Steel

UBS·Aug 27, 2026

UBS CIO views Gerdau as a resilient investment-grade credit supported by strong 2Q26 earnings, low leverage of 1.2x, and ample liquidity. The analysts recommend the Gerdau 5.75% bond due June 2035 for a hold-to-maturity strategy.

US Fixed Income Weekly

Deutsche Bank·Jul 31, 2026

This report provides a weekly strategy update on US fixed income, highlighting the Fed's unchanged policy rates and an expected adjustment to Treasury auction guidance. It also notes upward revisions to deficit forecasts and monitors market dynamics amid FOMC decisions.

Interest Rates Daily

Crédit Agricole CIB·Jul 9, 2026

Geopolitical tensions in the Middle East have pushed EUR rates higher, causing a sell-off in Bunds and underperformance in BTPs/OATs. The market is closely monitoring the BTP-Bund spread's relationship with oil prices, where a current valuation dislocation exists.

Global Fixed Income Weekly

Deutsche Bank·Jun 26, 2026

This weekly fixed income report from Deutsche Bank updates rates strategies and forecasts following recent FOMC meetings and Middle East developments. It highlights pension fund rebalancing flows and structural shifts toward higher term premia.

Fed Balance Sheet and Swap Spreads

Crédit Agricole CIB·Jun 15, 2026

This report examines the potential impact of Federal Reserve balance sheet reduction options and regulatory changes on US interest rate swap spreads. The author concludes that while these factors are fundamentally bullish, their impact is likely already priced into the market.

Middle East Daily

MUFG·Sep 4, 2026

Special 'Back to School' TW(S)IG: This Summer in Global Research

Goldman Sachs·Sep 4, 2026

Canada: The Next Acceleration

Morgan Stanley·Sep 4, 2026

All reports

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